An improved supply is slowing escalating home prices

House hunters in western Washington can choose from the largest supply of homes in three years and they are facing fewer bidding wars, according to officials from Northwest Multiple Listing Service.

[…] “The Puget Sound residential housing market remains positive, though the market has transitioned from a frenzied state to one of strong sales activity,” remarked J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. “We are seeing stability in the affordable and mid-price ranges in all market areas,” he said, citing “one of the best job-growth markets in the nation” and favorable interest rates as contributing factors.